Egypt Signs USD 900 Million Debt-Swap With Germany, Italy & China
Jul 03, 2025
Egypt has secured more than USD 900 million in debt-swap agreements with Germany, Italy and China, according to an announcement by Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat at the Fourth International Conference on Financing for Development, a high-level United Nations event taking place in Seville, Spain. The agreements aim to reallocate external debt repayments toward domestic development initiatives, offering Egypt greater flexibility in addressing economic challenges. Minister Al-Mashat highlighted the growing debt burden on low- and middle-income countries, which now amounts to USD 8.8 trillion, with nearly 60% of nations either in or approaching debt distress. Egypt's new swaps are intended to provide fiscal breathing room while supporting development goals aligned with Vision 2030.
The conference focused on debt solutions and international reform, where Egypt also called for broader financial policy shifts, including the use of Special Drawing Rights and more inclusive multilateral development bank strategies. The minister emphasised the need for updated risk frameworks and automatic suspension mechanisms to ensure a more resilient and equitable global financial system.
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